eBay to cut about 9% of its workforce to simplify operations
eBay will lay off roughly 9% of staff to simplify operations and shift resources to its fastest-growing areas, according to an internal memo seen by Reuters.
- published on Newsmetry
- original source published
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner. connect the api →
what happened
eBay will lay off about 9% of its workforce, according to an internal memo from CEO Jamie Iannone that Reuters reviewed. A company spokesperson confirmed the layoffs to Reuters on Wednesday. In February, the company already let go of about 6% of its staff, or 800 employees, as part of its streamlining efforts.
Iannone said the company is focusing on authenticated luxury goods, collectibles and refurbished products, which attract buyers willing to pay more. eBay shares have risen nearly 40% this year, while the S&P 500 has gained about 12%. The $1.4 billion purchase of fashion resale platform Depop also helped eBay forecast third-quarter revenue above Wall Street estimates.
GameStop CEO Ryan Cohen made an unsolicited $56 billion bid for eBay in May. eBay rejected the offer, saying it was "neither credible nor attractive."
why it matters
Job cuts alongside share gains suggest eBay is reshaping its cost base rather than only defending against weak demand. Its next earnings report is due next week, and investors will look for evidence that the efficiency push is lifting margins.
market impact
eBay shares: cost cuts may support margins, while the upcoming earnings will determine the market reaction
tags
instruments
sources
- EBay to lay off 9% of workforce in push to simplify operations, internal memo shows — Reuters, 21 October 2026 at 11:49 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner.
get stories in real time ↗